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Investment Incentive Program

The City of Kimberley is committed to being a partner in business – to cultivate business opportunities and support business retention and expansion. Kimberley’s Investment Incentive Program, Bylaw 2558, is designed to encourage investment in commercial, industrial and mixed commercial/residential projects.

Program objectives

The program provides an incentive, in the form of relief from municipal portion of property tax, to encourage investment in the development or redevelopment of commercial, mixed residential and commercial, or industrial projects. The objectives of the program are:

To enhance visual appeal and vitality; support business growth and to expand employment opportunities; and

To improve environmental condition of brownfield sites and to increase the supply of development-ready lands available to support growth in the local economy.

The program is intended to achieve the objectives by providing relief, for a specified term, from 100% of the incremental increase in municipal portion of property taxes resulting from the increased property values after a commercial, mixed residential and commercial, or industrial project is completed, or by providing relief from 100% of the municipal portion of property taxes while a project involving environmental investigation or remediation activity is in progress.

Eligible projects

A wide range of projects may be eligible under the Program:

New construction or alterations to an existing building resulting in a net increase of floor area (the project must be fully completed by October 1 for the tax exemption to be applicable in the following year);

Exterior improvements to an existing building involving all facades visible from a public street, road, lane, sidewalk or parking lot and subject to a development permit (the project must be fully completed by October 1 for the tax exemption to be applicable in the following year); or

A project involving work to investigate or remediate the environmental condition of a parcel with a project value of at least $10,000 (the project must be in progress by October 1 for the tax exemption to be applicable in the following year).

After the project is completed, the tax exemption will apply annually for a three year term on eligible commercial and mixed residential/commercial projects and a five year term on eligible industrial projects. Projects involving environmental investigation or remediation activity may be eligible for up to a three year term.

How to Apply to the Program

Submit applications for Development Permits and Building Permits as required for your commercial, mixed residential-commercial, or industrial project.

Within 60 days of obtaining approval of required Development or Building Permits for the project, complete and submit an Investment Incentive Application [hyperlink to attached], make sure to include the following information:

Project description, plans and photographs;

Total value of investment to project (materials, labour, etc.);

Confirm assessed value of property (current year);

Confirm current taxes on the parcel have been paid;

Confirmation of approved development or building permit(s);

$100 non-refundable application fee

Your completed application will be reviewed to confirm the project’s eligibility under the program. The project, and owner, will be confirmed eligible for the incentive when the owner and the City have executed the required revitalization tax exemption agreement in accordance with Bylaw 2558.

Once the revitalization tax exemption agreement has been signed and the project has been fully completed by October 1, the City will issue a Revitalization Tax Exemption Certificate and the incentive (tax relief) will begin in the tax year following completion of the project.